Look Who’s Driving the U.S. Housing Market

Not very long ago, it was fashionable to ask if Millennials would ever crawl out of their parents’ basements and into a Realtor’s office. Enthusiasm for that view, which had gained wide exposure by 2012, lost steam as mortgages got easier to come by and Millennials kept insisting that no, actually, they do want to own a home.

A flurry of recent reports should further dispel the notion that Millennials are allergic to homeownership.

Half of U.S. homebuyers are under 36, Zillow reports, based on a survey of 13,000 respondents, and first-time buyers account for 47 percent of purchases. First-timers make up 52 percent of prospective buyers planning home purchases in 2017, according to the results of another survey published by Realtor.com. When the company conducted the same survey last year, it found that only 33 percent of prospective buyers were first-timers.

Millennials, it seems, are poised to take a bigger share of the U.S. housing market.

Read more about this topic at: http://www.bloomberg.com/news/articles/2016-10-19/look-who-s-driving-the-u-s-housing-market